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URL:  http://boards.fool.com/ltlthey-im-frugal-and-im-a-fix-everything-i-20286556.aspx

Subject:  Re: Replacing Kitchen Countertops Date:  2/7/2004  9:31 PM
Author:  SeattlePioneer Number:  45915 of 128375

<<Hey,
I'm frugal and I'm a fix everything I can around my home. I also agree in not throwing out something unless it's broke. I was born during WWII. But, my stove is broke, my stainless steel sink is pitted, scratched and I don't have a finish left of my countertops. No matter how much I wax it -- it's 28 years old as are my appliances. I'm also not one to keep up with the Jones.
>>


My purpose isn't to nitpick you, emma, and not even to be persuasive if you want to do your kitchen remodel.


My gas range is a lovely avocado green Hotpoint dating from 1972 it was in the junk pile at the gas utility where I worked, traded in on a new range, so I got it for free in 1987. I found a piece of laminate coutertop and stainless steel kitchen sink at a thrift shop when I did my remodel in 1987 ---cost me about $12 as I recall. I did spring for some new base cabinets that were unrepairable --- I painted the base cabinets and upper cabinet to match.

I probably spent $200-300 or so on that kitchen remodel in 1987. At the time, I was buying a rental property for cash, and I thought I might move into it and rent out the house I live in ---hence the need for some sprucing up.

While such frugality may lack sex appeal for many, consider what it does allow: I helped me to buy a rental property for $38,000 cash. That property today is worth $180,000 or so, and has brought in gross rents of something like $200,000 in gross rent over the years. Investments like that were possible for me as a single guy working (at the time) an office clerical job.

People are entitled to spend their money as they wish. But I think a lot of people underestimate just how high the rate of return on savings and investments can be. I like to encourage people to think about the payoff that can come from frugality, savings and investments, not just the fleeting attractiveness of new consumer junk.



Seattle Pioneer
Frequently frugal


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